Posted on 21. Apr, 2015 by Marc Courtenay.
Vacancies are filling faster than ever. Rents are slowly rising in many areas of the country. Property managers are busier because many former home owners are choosing to be renters. So why would property managers consider joining an association of their peers? Is it really worth the effort, money and time? According to The National […]
Posted on 16. Apr, 2015.
There’s a multitude of reasons why people prefer the title of renter over homeowner. Being a renter gives you a certain amount of freedom that can...
Posted on 09. Apr, 2015.
First quarter results are in and it looks like the west coast is leading the way with the lowest vacancy rates. Multifamily Executive recently...
Posted on 13. Apr, 2015 by Marc Courtenay.
If you’re looking for residents who have incentives to pay their rent on time each month look no further. Those who qualify for federally sponsored housing assistance programs backed by the only organization that can legally print money…the federal government…awaits you! The oldest program has been around nearly 80 years! Section 8 of the Housing […]
After a brutal winter in many parts of the U.S., spring has finally arrived, with a hint of green quickly replacing the brown that we’ve looked at for the past several months. While we can all appreciate the warmer weather, those long months of rain and snow can take its toll on even the most […]
With warm weather finally here, the number of children playing outside will increase dramatically in the coming weeks. This can cause a number of issues in apartment communities – ranging from noise complaints from residents, as well as an increased incident of accidents; everything from the usual cuts and scrapes to more serious issues that […]
“Any intelligent fool can make things bigger, more complex, and more violent. It takes a touch of genius…and a lot of courage to move in the opposite direction.” – E.F. Schumacher This is the time of year that all states except Arizona “spring forward” into Daylight Savings Time. It’s an auspicious time to sharpen your business […]
Posted on 24. Mar, 2015 by Marc Courtenay.
Conditions keep improving for the property management business across the U.S. That’s partly due to the slumping supply of houses for sale which has been waning since the final quarter of 2014. The reasons for the sparse number of homes for sale vary according to regions. Most areas are benefitting from lower mortgage rates allowing […]
Isn’t it amazing how a simple five-letter word can create such panic and anxiety in so many of us. While tales of audit disaster are found everywhere, most audits are simple and straightforward, involving little drama and a lot of paperwork. Of course, even with these reassurances, being audited, whether it’s by the IRS, the […]
Posted on 12. Mar, 2015 by Marc Courtenay.
Opportunity is often disguised in distressful situations. Property managers know that all too well. Many have shared with me how they turned “lemons” into “lemonade” by their careful vigilance. Recently The Federal Housing Finance Agency (FHFA) announced new requirements for sales of non-performing loans (NPLs) by Freddie Mac and Fannie Mae (the Enterprises). This involves […]
When I think about tools, images of hammers, screwdrivers, and drills pop into my head. I certainly don’t think about computers, software, continuing education, or a pizza party. But just as a carpenter needs a hammer to do his job well, property management employees need the proper tools to do their job well. Remember, you […]
Posted on 03. Mar, 2015 by Marc Courtenay.
Often in my articles I’ll comment on smart ways for property management companies to grow their existing businesses. Organic growth is the primary approach but not the only one. Another hot topic for property managers is how to stay one step ahead of the competition. With the assistance of the latest technologies you can save […]
Posted on 24. Feb, 2015 by Marc Courtenay.
There’s an explosion of new renters in all major cities in the U.S. Yes, even in lower-density, relatively inexpensive cities like Dallas and Houston, a significant shift in the proportion of renters is unfolding. It appears the big rise in the number of renters is a delayed result of the housing bust which followed the […]
Of all of the tasks required of a property manager, what is the one task that most property managers dread? If you said evictions, you’re correct. While careful applicant screenings can help in reducing the number of evictions necessary, every property manager will eventually find themselves in a position to evict a resident. But are […]
Posted on 10. Feb, 2015 by Marc Courtenay.
Do you want to make a mighty, personal breakthrough in the year ahead? Are you willing to invest a little extra time for the opportunity to be your personal best? My colleague Craig Ballantyne who publishes Early to Rise recently knocked the ball out of the park with an article that targets one of the […]
If you’re looking for an inexpensive way to build awareness about your property management company while also building relationships with both potential and current residents, you may want to consider starting a blog. While you may have some initial reservations, it’s really quite easy to start, and you can always convince co-workers to contribute as […]
Posted on 27. Jan, 2015 by Marc Courtenay.
In the world of investing there’s an old adage: “Money goes where it’s treated best”. The same could be said for the best residents. As the world of rental properties become more competitive a new adage is “Good residents move to where they are treated best”. A “good resident” is one that has an outstanding […]
Posted on 22. Jan, 2015 by Marc Courtenay.
Large metropolitan areas aren’t the only places where rental activity increased in 2014. In fact rents went up more as a percentage in smaller cities than in the large metropolitan areas. In 2014 the cost to rent an apartment moved higher for the fifth consecutive year. Much stronger demand coupled with dwindling supply meant vacancies […]
Posted on 08. Jan, 2015 by Marc Courtenay.
The year 2014 ended with the U.S. housing market appearing on the verge of a downturn. Sales of new homes in November slipped almost 2% from the previous year according to the Commerce Department. Existing homes sales for November also were down 6.1%. A more disturbing trend came from a survey of U.S. home builders […]
Are you ready to begin? There’s something about a new year that provides many of us with the impetus to change. For many of us, becoming more organized is a big part of that change. Yes, you can continue to rifle through that two-foot tall stack of papers resting on your desk, or you can […]
It’s a brand new year. If you’re like most of us, you have a long list of New Year’s resolutions that you have vowed to keep this year. And, if you’re like most of us, becoming better organized in 2015 is somewhere on that list; after all it’s one of the Top 10 resolutions year […]
The term “golden rules” is actually an introduction to the most important rules property managers must adhere to. This article should be considered a primer which you can build upon. As my readers know I want property managers to be “remarkable”. One big way to achieve this is to know so much about your responsibilities that […]
Posted on 16. Dec, 2014 by Marc Courtenay.
Vacancies can come up at the most unexpected times. The end of a year, even though it’s a holiday season, is no exception. Neither are the early months of winter when fewer moves occur. That’s why property managers need multiple ways to attract new residents that work all year round. It’s also effective to have […]
As 2014 draws to a close, there’s no better time to begin to assess the year. If there’s nothing you would change for 2015, you can probably stop reading now. But for most of us, there’s always something that we can do better, faster, more efficiently, and more profitably. One of the best ways to […]
While the holiday season conjures up visions of family gatherings, robust meals and brightly wrapped presents, the reality can often be very different. Today, it’s rare to find anyone who doesn’t experience at least some stress while coping with the holiday season. From your employees, your residents, and even your own family and friends, instead […]
Posted on 27. Nov, 2014 by Marc Courtenay.
As property managers we want to keep up on the trends in our local economies. “The trend is our friend” is a mantra that enlivens our professional awareness. The final quarter of 2014 has uncovered some important national trends as well. Building permits, an important signal of future construction, increased by 4.8% in October to […]
Posted on 25. Nov, 2014 by Marc Courtenay.
Like the words of a well known seasonal song, “It’s the most wonderful time of the year”. From Thanksgiving through New Year’s Day most people are in celebration mode. Strangely it’s also one of the most stressful times of the year. The holiday pressures of family reunions, buying gifts, planning get-togethers, or being alone while […]